<ARTICLE> 5
<CIK> 0000102438
<NAME> USP REAL ESTATE INTESTMENT TRUST
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               MAR-31-1997
<CASH>                                       1,184,663
<SECURITIES>                                         0
<RECEIVABLES>                                  721,046
<ALLOWANCES>                                   233,764
<INVENTORY>                                          0
<CURRENT-ASSETS>                             2,110,666
<PP&E>                                      40,055,926
<DEPRECIATION>                              11,519,550
<TOTAL-ASSETS>                              31,900,765
<CURRENT-LIABILITIES>                        1,131,988
<BONDS>                                     14,700,695
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     3,880,000
<OTHER-SE>                                  12,188,082
<TOTAL-LIABILITY-AND-EQUITY>                31,900,765
<SALES>                                              0
<TOTAL-REVENUES>                             1,277,422
<CGS>                                                0
<TOTAL-COSTS>                                  435,541
<OTHER-EXPENSES>                               110,252
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             365,278
<INCOME-PRETAX>                                163,220
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            163,220
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   163,220
<EPS-PRIMARY>                                      .04
<EPS-DILUTED>                                      .04